- Sep 26, 2000
- 28,559
- 4
- 0
http://news.yahoo.com/s/ap/20060428/ap_on_go_pr_wh/bush
President Bush on Friday rejected calls by some lawmakers for a tax on oil company windfall profits, saying the industry should reinvest its recent gains into finding and producing more energy.
"The temptation in Washington is to tax everything," Bush said in an exchange with reporters in the White House Rose Garden. "The answer is for there to be strong reinvestment to make this country more secure from an energy perspective."
The implication is that oil companies are using their profits to produce more oil and that if we tax those profits they wouldn't be there to produce more oil. Yet, Bushes economic tax plan ENCOURAGES companies to pay dividends and NOT to invest in real assets that increase stock price (and would result in more oil).
If oil companies were re-investing these new found profits WE WOULD NOT BE HEARING ABOUT SUCH HUGE PROFITS. Because as any moron, including the President, knows that when you invest in things like more production it comes out of your PROFIT.
President Bush on Friday rejected calls by some lawmakers for a tax on oil company windfall profits, saying the industry should reinvest its recent gains into finding and producing more energy.
"The temptation in Washington is to tax everything," Bush said in an exchange with reporters in the White House Rose Garden. "The answer is for there to be strong reinvestment to make this country more secure from an energy perspective."
The implication is that oil companies are using their profits to produce more oil and that if we tax those profits they wouldn't be there to produce more oil. Yet, Bushes economic tax plan ENCOURAGES companies to pay dividends and NOT to invest in real assets that increase stock price (and would result in more oil).
If oil companies were re-investing these new found profits WE WOULD NOT BE HEARING ABOUT SUCH HUGE PROFITS. Because as any moron, including the President, knows that when you invest in things like more production it comes out of your PROFIT.